Rent vs Buy in Minnesota
Compare 17 cities across Minnesota. Find out whether renting or buying makes more financial sense in your area.
17cities analyzed
Avg Home:$302,353
Avg Rent:$1,624/mo
Avg Price/Rent:15.6
Minnesota Housing Market Summary
17
Cities Analyzed
14
Favor Buying
0
Favor Renting
3
Toss-Up
Across Minnesota's 17 analyzed cities, the majority (14 cities) favor buying over renting. This suggests Minnesota generally offers good value for homebuyers.
The average home price in Minnesota is $302,353, with average rents at $1,624/month. This gives an average price-to-rent ratio of 15.6.
$Most Affordable Cities
$$Most Expensive Cities
All Minnesota Cities
Sorted by population. Click any city for detailed analysis.
| City | Median Price | Median Rent | Price/Rent | Break-even | Verdict |
|---|---|---|---|---|---|
| Minneapolis | $335,000 | $1,650 | 16.9 | 5 yrs | Buy |
| St. Paul | $325,000 | $1,800 | 15.0 | 5 yrs | Buy |
| Rochester | $310,000 | $1,800 | 14.4 | 6 yrs | Buy |
| Duluth | $340,000 | $1,350 | 21.0 | 7 yrs | Toss-up |
| Bloomington | $330,000 | $1,450 | 19.0 | 6 yrs | Toss-up |
| Brooklyn Park | $270,000 | $1,650 | 13.6 | 3 yrs | Buy |
| Plymouth | $280,000 | $1,450 | 16.1 | 5 yrs | Buy |
| Woodbury | $290,000 | $1,650 | 14.6 | 5 yrs | Buy |
| Maple Grove | $340,000 | $1,500 | 18.9 | 9 yrs | Toss-up |
| St. Cloud | $345,000 | $1,750 | 16.4 | 6 yrs | Buy |
| Eagan | $300,000 | $1,700 | 14.7 | 4 yrs | Buy |
| Burnsville | $315,000 | $1,650 | 15.9 | 4 yrs | Buy |
| Coon Rapids | $275,000 | $1,800 | 12.7 | 6 yrs | Buy |
| Apple Valley | $270,000 | $1,700 | 13.2 | 6 yrs | Buy |
| Edina | $280,000 | $1,500 | 15.6 | 6 yrs | Buy |
| Moorhead | $260,000 | $1,550 | 14.0 | 4 yrs | Buy |
| Mankato | $275,000 | $1,650 | 13.9 | 6 yrs | Buy |
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